If you have a pension, or a string of ISAs, then you are watching – for the second time in a decade – your wealth destroyed. European stock markets are now 20 per cent off their peak in the middle of last year.

Alexis Tsipras’ final election rally had the usual soundtrack and familiar props but a different cast. After more than a fifth of his MPs split to form a new left party, the inner core of party activists behind the stage were nervous. Would anybody more than the party faithful come?

The new Greek government proposals, published late last night are clearly based on those submitted by Jean Claude Juncker last Thursday, before the referendum. Many Greeks are frustrated, asking: what was the point of the referendum? It’s left many foreign observers saying the same.